How to report backend failure to buy side

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Imported from previous forum

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Hi all,

we have a FIX gateway process which forwards orders to a backend system and gets back trades and market data.

What is the best way to report failure or unavailability of the backend system to the FIX client (buy side)?

Two approaches come to my mind:

  1. Logout with Text=Explanatory Text

  2. Unsolicited BusinessMessageReject(BusinessRejectReason=4(Application not available)

Is it possible to send BusinessMessageReject unsolicited? But the tag 372 (RefMsgType) is required, but cannot be filled for unsolicted messages.

Any opinions from the FIX community are very welcome.

Cheers, Jörg

3

[ original email was from John Prewett - jprewett@lavatrading.com ]
> Hi all,

we have a FIX gateway process which forwards orders to a backend system
and gets back trades and market data.

What is the best way to report failure or unavailability of the backend
system to the FIX client (buy side)?

Two approaches come to my mind:

  1. Logout with Text=Explanatory Text

  2. Unsolicited BusinessMessageReject(BusinessRejectReason=4(Application
    not available)

Is it possible to send BusinessMessageReject unsolicited? But the
tag 372 (RefMsgType) is required, but cannot be filled for
unsolicted messages.

Any opinions from the FIX community are very welcome.

Cheers, Jörg

We use an unsolicited TradingSessionStatus (MsgType=h) message for this.

4

Hi all,

we have a FIX gateway process which forwards orders to a backend
system and gets back trades and market data.

What is the best way to report failure or unavailability of the
backend system to the FIX client (buy side)?

Two approaches come to my mind:

  1. Logout with Text=Explanatory Text

  2. Unsolicited
    BusinessMessageReject(BusinessRejectReason=4(Application not
    available)

Is it possible to send BusinessMessageReject unsolicited? But the tag
372 (RefMsgType) is required, but cannot be filled for unsolicted
messages.

Any opinions from the FIX community are very welcome.

Cheers, Jörg

We use an unsolicited TradingSessionStatus (MsgType=h) message for this.

I guess with 325(UnsolicitedIndicator)=Y and 340(TradSesStatus)=1(Halted)?

Hmmm, this seems more related to trading sessions than to error situations. Actually, the trading is not halted: There may be orders in the market which cannot be deleted.

Cheers, Jörg

5

[ original email was from John Prewett - jprewett@lavatrading.com ]
> > > Hi all,

we have a FIX gateway process which forwards orders to a backend
system and gets back trades and market data.

What is the best way to report failure or unavailability of the
backend system to the FIX client (buy side)?

Two approaches come to my mind:

  1. Logout with Text=Explanatory Text

  2. Unsolicited
    BusinessMessageReject(BusinessRejectReason=4(Application not
    available)

Is it possible to send BusinessMessageReject unsolicited? But the
tag 372 (RefMsgType) is required, but cannot be filled for
unsolicted messages.

Any opinions from the FIX community are very welcome.

Cheers, Jörg

We use an unsolicited TradingSessionStatus (MsgType=h) message
for this.

I guess with 325(UnsolicitedIndicator)=Y and
340(TradSesStatus)=1(Halted)?

Hmmm, this seems more related to trading sessions than to error
situations. Actually, the trading is not halted: There may be orders in
the market which cannot be deleted.

Cheers, Jörg

We indicate which “Session” has become available/unavailable using the TradingSessionID (336) to differentiate between an actual execution venue and an intermediary routing point. TradingSessionID documentation says and I quote:
“Values should be bi-laterally agreed to between counterparties”.
In this case you can document that you will send out “Backend Server Unavailable” or whatever.

6

Hi all,

we have a FIX gateway process which forwards orders to a backend system
and gets back trades and market data.

What is the best way to report failure or unavailability of the backend
system to the FIX client (buy side)?

Two approaches come to my mind:

  1. Logout with Text=Explanatory Text

  2. Unsolicited BusinessMessageReject(BusinessRejectReason=4(Application
    not available)

Is it possible to send BusinessMessageReject unsolicited? But the
tag 372 (RefMsgType) is required, but cannot be filled for
unsolicted messages.

Any opinions from the FIX community are very welcome.

Cheers, Jörg

Some implementations are using the News message (MsgType=B) for this purpose.

Oliver